Global technology specialist Unisys (UIS +0.43%) announced yesterday it declared a dividend on its Series A 6.25% mandatory convertible preferred stock in the amount of 1.5625 per share.
The board of directors said the quarterly dividend is payable on Sept. 1 to the holders of record at the close of business on Aug. 15. The preferred stock trades on the NYSE under the symbol UIS.PRA. Each share of the mandatory convertible preferred stock will automatically convert on March 1, 2014 into between 2.1899 and 2.6717 shares of Unisys's common stock. At any time prior to March 1, holders may elect to convert all or a portion of their shares of the preferred stock at the minimum conversion rate of 2.1899 shares.
Unisys does not pay a dividend on its common stock.
